US EditionGreenPower Announces Term Loan Offering
- GreenPower Motor Company Inc. Announced a term loan offering up to US $2,000,000 on May 13, 2025, from several lenders secured by the Company's assets in Vancouver, BC.
- The loan includes a first tranche of US $500,000 from companies linked to the CEO and a Director, considered related parties under MI 61-101 regulations.
- This related party loan bears a 12% annual interest over two years, is subordinated to senior debt, and the Company plans to use proceeds for production, suppliers, payroll, and working capital.
- The combined value of the financing and associated bonus warrants does not surpass 25% of GreenPower’s market capitalization, allowing the transaction to qualify for exemptions under sections 5.5 and 5.7 of MI 61-101, thereby waiving the need for formal valuation and minority shareholder approval.
- GreenPower, a Vancouver-founded manufacturer of zero-emission medium and heavy vehicles listed on Nasdaq as GP, noted in forward-looking statements that actual results may differ due to risks and uncertainties.
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The Daily News - Jacksonville, NC+13 Reposted by 13 other sources
GreenPower Announces Term Loan Offering
VANCOUVER, BC, May 13, 2025 /PRNewswire/ -- GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) ("GreenPower" and the "Company"), a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and…
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